Subject: File No. 4-610
From: Kerry Erendson

March 21, 2011

I would like to express what the demise of the "monoline" insurers has done to me. This situation not only affects the economy in general, but directly affects individuals like myself. I have been trying to do the right thing by saving for my retirement throughout my career. I purposely bought nothing but AAA rated municipal bonds. Many people told me I was way too cautious, and that I could get better returns in the stock market, real estate, etc. I just wanted the security of a low-risk investment. Now, here I am, with my life savings in these bonds, and now they have no security, the one thing I wanted. While I bought them to hold for the long term, the fear of default with no insurance to back them up is very scary. I can't really sell them, as their value has plummeted, and I would loose lots of money just when I am getting older and will need this resouce soon. While I hate the idea of government bail-outs, I would like to see some way that these existing bonds could be re-insured and have new rules in place for insurance for new issues. Backing up the old "monolines" only AFTER their resources are depleted would bring stability to the market and probably cost the tax pay very little if anything in the end. I am very worried.

Thank You,
Kerry Erendson